RE:RE:RE:Tight oil ain't what it used to be?The extension of leases will be a debate in the coming months, but I assume that since Alberta’s resource revenue just hit an all-time record for this year as royalty revenues grow, the debate will be somewhat muted and biased towards granting extensions.
Oilsands were providing greater royalty rates in 2021, and total bitumen revenues contributed $11.6 billion to the record $16.2 billion for the year.
Yes, the province’s finances are heavily tied to world oil prices, but they expect resource revenues could hit $25 billion or more this year if oil stays above $100 a barrel. The Alberta Government may posture for the sake of ESG and other initiatives, but they won’t bite the hand that feeds